December 3, 2014 / 12:37 PM / 3 years ago

CANADA STOCKS-TSX set to open lower ahead of Bank of Canada meeting

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Dec 3 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Wednesday ahead of Bank of Canada's rate decision meeting. The central bank is expected to keep interest rates unchanged.

December futures on the S&P TSX index were down 0.07 percent at 7.15 a.m. ET.

Bank of Canada's rate decision is due at 10.00 a.m. ET

Canada's main stock index closed marginally lower on Tuesday, with gains in energy and railway stocks offset by weakness from some major banks, gold miners and telecom companies.

Dow Jones Industrial Average e-mini futures were down 0.01 percent at 7.15 a.m. ET, while the S&P 500 e-mini futures were down 0.02 percent. Nasdaq 100 e-mini futures were down 0.02 percent. (Morning News Call newsletter; The Day Ahead newsletter

Top Stories

Royal Bank of Canada reported a strong fourth-quarter profit on Wednesday, helped by double-digit earnings gains at its wealth management arm.

Chrysler Canada gained on Ford Motor Inc's Canadian unit for the second month in a row in November, pulling within 920 vehicles of the sales leader.


Gold futures : $1,199.7; +0.04 pct

US crude : $67.30; +0.21 pct

Brent crude : $70.47; -0.9 pct

LME 3-month copper : $6,398; -0.24 pct

Analyst Research Highlights

Bank of Montreal : Canaccord Genuity cuts target price to C$87 from C$89; rating buy

Golden Queen Mining Co : Canaccord Genuity cuts to sell from hold

u.s. Economic Data Due on Wednesday

0815 ADP national employment for Nov: Expected 221,000; Prior 230,000

0830 Labor costs revised for Q3: Expected 0.0 pct; Prior 0.3 pct

0830 Productivity revised for Q3: Expected 2.4 pct; Prior 2.0 pct

0945 Markit Composite Final PMI for Nov: Prior 56.1

0945 Markit Services PMI Final for Nov: Prior 56.3

1000 ISM N-Manufacturing PMI for Nov: Expected 57.5; Prior 57.1

1000 ISM N-Manufacturing business activity for Nov: Prior 60.0

For Canadian Markets News, Click on Codes:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1= C$1.14 Reporting by Pradip Kakoti in Bengaluru; Editing by Siddharth Cavale

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